Shareshopper1
15 Aug 2015
Expect the worst. .... and you won't be too disappointed!Can we really roll the dice and come up with a double 6??....striking it lucky is the stuff dreams areally 10 bag from hetere made of and the I've never had that sort of luck and hope this could be the first time...Could this really 10 bag from here???....what really are the odds of backing a multi bagging winner on aim??Hope for the best but expect the worst is how I'm approaching this drill as I've been disappointed before.gla for next week
borgo22
15 Aug 2015
No time left to sit or twist Firstly well done to Otto. They have daily kept the markets updated and they are lucky as the pay zone has been entered over the weekend. The Philippines is rife with corruption and Otto have played good corporate governance here. I bought at approx 4p believing there would be a spike before spud - that never materialized. Monday morning we will know the outcome. I have no contacts here and await like all holders. This is virgin exploration so the chances are low. I do like Hawkeye much better than Cinco and to be fair Hawkeye looks good on the seismic.Let's see on Monday. Good luck to all Holders !
one4all
15 Aug 2015
keep an eye on this for leaks [link]
goldielockandthethreebears
15 Aug 2015
Re: Disclosure info Hawkeye-1 I have to day that they have kept a very tight ship on this drill. I've never seen a drill without leaks, rumours and all the bs before. Well done for that.Not long to wait for the result now. Fingers crossed.
Tuckman1
15 Aug 2015
Re: Disclosure info Hawkeye-1 Monday morning maybe interesting!!! If they reach TD later I doubt they could `test` any of the zones and give any substantial results.However if it is bone dry then we can expect a `RNS stating the fact.How will they word the next RNS is key to us either up or down......I hope for no RNS because IMO that will mean they still have something to do .Whatever happens it will be all over next week, this certainly has been an eye opener and well done to OTTO for the efficiency of the drill and the lack of `leaks`Good luck everyone
Oilman77
15 Aug 2015
Disclosure info Hawkeye-1 re Hawkeye-1 disclosure posted Friday14th Aug 9.40am local = 2.40am UKI make TD around early hours Saturday morning UK [link] hope after 10 years of hard work its worth the wait good luck guys
Shareshopper1
14 Aug 2015
Leaks over the weekend..... ...will be interesting to see if there are any assuming we reach TD by then.Monday morning could be interesting gla
Shareshopper1
14 Aug 2015
Leaks over the weekend..... ...will be interesting to see if there are any assuming we reach TD by then.Monday morning could be interesting gla
akaDolly
14 Aug 2015
Re: why its gas they are after [link] Manila (CNN Philippines) – The Malampaya Natural Gas Facility supplies fuel to three major power plants in Luzon.These plants provide 40-percent of the island's energy requirement.But Malampaya's lifespan is projected to end in less than a decade.The facility is expected to produce less fuel in its remaining year. So to help maximize its output, Malampaya operator Shell Philippines Exploration B.V. installed another platform to help pump gas from under the ocean.Albert Emas, Shell offshore installation manager, says: "It's like, let's say, a water jug: Every time you get water from the water jug, di ba, it declines. So pero there's a certain limit or level na you would be concerned about na oops, masyado na mababa yung level ng jug ko."The Malampaya facility only has nine years left before it runs out of natural gas.The government is now finding other sources of fuel within the country's territory to sustain the production of three power plants relying on Malampaya.Without a new fuel source, the government says it may resort to importing fuel. The problem is that this will entail a higher cost that will be passed on to consumers.One of the areas up for oil and gas exploration is Recto Bank in the West Philippine Sea.However, a territorial spat with China forced the government to stop activities in that area.Energy Secretary Jericho Petilla says the government wouldn't realy know oil reserve prospects in the area until drilling is actually conducted.Malampaya operators are now searching for other gas sources near their service contract.This may augment supply or even extend the life of Malampaya.Sebastian Quiñones, managing director of Shell Philippines Exploration B.V., says: "There are what we call field reservoirs that are close to Malampaya. Meron, but it would require us to obviously drill and then bring the gas to here."But to do that, the company needs to shell out billions of dollars to conduct exploration activities as well as renegotiate a new contract with the government beyond 2024.
akaDolly
14 Aug 2015
why its gas they are after Malampaya reserves expected to be depleted by 2024 MANILA, Philippines - The Philippines needs to discover another Malampaya gas field with the depletion of natural gas from the deep water gas-to-power project looming in 2024, experts said during a natural gas summit held last week.The search for another Malampaya must be a national priority, they said.“What is next after Malampaya? The reservoir will be depleted. It takes a decade to get those things to happen? Shouldn’t we start exploring now? Shouldn’t we start to have appraisal (of areas) now? Unfortunately, that is not yet going to happen. There is difficulty in getting exploration blocks,” said Shell Philippines B.V. Managing Director Sebastian Quinones, who is also president of the Petroleum Association of the Philippines (PAP).The PAP, which counts 30 members, urged the government to streamline the procedures. The drag turns off exploration companies and discourages them from pouring in billions in investments for exploration, Quinones said. “We need to talk to a lot of government agencies. For example, we need to bring in expensive equipment. We need fiscal incentives so we really hope the government can streamline procedures,” he said in a separate interview with The STAR.Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Malampaya, which began operating in 2001, is a joint undertaking of the government and the private sector. The project is spearheaded by the Department of Energy and developed and operated by Shell Philippines Exploration B.V. (Spex), with a 45 percent stake on behalf of joint venture partners Chevron Malampaya LLC, also with a 45 percent stake and the PNOC Exploration Corp. which holds the remaining 10 percent.Under the service contract agreement, 70 percent of the gross proceeds from the sale of natural gas would go to the contractor to recover the investment cost. The remaining 30 percent is shared by the government and the consortium on a 60-40 basis, respectively.Upon its discovery, it had about 2.7 trillion cubic feet of natural gas reserves and 85 million barrels of condensate, located some 3,000 meters below sea level.The indigenous gas from the field fuels three natural gas-fired power stations with a total generating capacity of 2,700 megawatts, accounting for roughly 45 percent of Luzon’s power generation requirements. These power plants are the 1,000 MW Sta. Rita and 500-MW San Lorenzo plants owned by the Lopez Group and the 1,200 MW Ilijan plant owned by Kepco Philippines.There is a ready market for the gas, another article follows[link] are really appealing to the government to put in mechanisms to be able to drill. For those who don’t know, in other countries, they drill 60 to 100 wells a year. The Philippines, last year, drilled only two wells. We need the government to be able to work out a way for that to happen,” Quinones said.Otto Energy, an Australia listed exploration company, shared the same view.“Given that Malampaya is projected to be depleted in the next decade, looking for the next Malampaya should be a national priority. I’ve always believed that there must be another Malampaya somewhere out there in offshore Palawan. Is there another one? Only exploration can tell us,” said Rufino Bomasang, director of Otto Energy.
wdelboy2
14 Aug 2015
In for a Punt... Its a gamble but upside greater than downside. Just don't bet the mortgage on this one. Been burnt before on Puntland but once bitten..... etc...
Oilman77
14 Aug 2015
Presentation Hawkeye & Cinco Hawkeye-1 & Cinco prospects offshore explained in detail by well operator Otto Energy the best presentation around on web given by Matthew Allen CEO MD Otto Energy May 2015This Hong Kong presentation including slides on Hawkeye 1 prospect well all explained in detail by Matt Allen Otto CEO - start 5 mins into for talk on Hawkeye & Cinco prospects & why [link] you have any questions ask Matt - [email protected]
Day_Tripper
14 Aug 2015
Re: Im still in Been in since 2011 ... hopefully we'll be back to double figures on a successful drill
The Delboy
14 Aug 2015
3.85 on bid Volume ticking up as well. No more running commentary, but must be a stonking bu
cantstandfools
14 Aug 2015
Buying pressure on ATs going crazy lolCould be a strikeCSF
